Rafferty Asset Management LLC Raises Holdings in Consolidated Edison, Inc. (NYSE:ED)

Rafferty Asset Management LLC lifted its position in shares of Consolidated Edison, Inc. (NYSE:EDFree Report) by 9.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 38,514 shares of the utilities provider’s stock after acquiring an additional 3,367 shares during the quarter. Rafferty Asset Management LLC’s holdings in Consolidated Edison were worth $3,504,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ED. Jump Financial LLC purchased a new position in Consolidated Edison during the 3rd quarter valued at about $343,000. Atria Wealth Solutions Inc. increased its holdings in Consolidated Edison by 5.6% during the third quarter. Atria Wealth Solutions Inc. now owns 45,167 shares of the utilities provider’s stock valued at $3,863,000 after buying an additional 2,380 shares during the period. D.A. Davidson & CO. lifted its holdings in Consolidated Edison by 3.9% during the third quarter. D.A. Davidson & CO. now owns 7,057 shares of the utilities provider’s stock worth $604,000 after buying an additional 263 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Consolidated Edison by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,984,449 shares of the utilities provider’s stock worth $169,716,000 after buying an additional 26,910 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Consolidated Edison by 4.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 29,631 shares of the utilities provider’s stock valued at $2,534,000 after acquiring an additional 1,174 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.3 %

NYSE:ED opened at $91.61 on Friday. The company has a market capitalization of $31.68 billion, a P/E ratio of 17.58, a PEG ratio of 2.35 and a beta of 0.35. The company has a current ratio of 0.99, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $98.85. The firm has a fifty day simple moving average of $93.35 and a 200-day simple moving average of $91.19.

Consolidated Edison (NYSE:EDGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.83 EPS. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.34 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.62%. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Analyst Ratings Changes

Several research firms have recently commented on ED. Morgan Stanley boosted their price target on Consolidated Edison from $73.00 to $80.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 28th. UBS Group decreased their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Mizuho lifted their price objective on shares of Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Barclays boosted their price objective on shares of Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 7th. Finally, Scotiabank cut their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $89.58.

View Our Latest Report on ED

Consolidated Edison Company Profile

(Free Report)

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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